Sukanya Samriddhi Yojana: The government has not changed interest rates on small savings schemes for the April to June 2026 quarter. This means people who invest in these plans will keep getting the same returns as before. The Finance Ministry said this will be the rule for the first quarter of FY 2026-27, which runs from April 1, 2026, to June 30, 2026.
In its March 31 notice, the ministry said, “The rates of interest on various small savings schemes for the first quarter of FY 2026-27, starting from April 1, 2026, and ending on June 30, 2026, shall remain unchanged from those notified for the fourth quarter (January 1, 2026 to March 31, 2026) of FY 2025-26,” the Finance Ministry said in a notification on March 31.
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This is the eighth quarter in a row with no rate change, according to recent financial reporting on the March 31 announcement.
Sukanya Samriddhi Yojana: Top choice for parents
Sukanya Samriddhi Yojana is still one of the most liked savings plans for parents who want to save money for a daughter’s future. The account can be opened in post offices and authorised banks for a girl child below 10 years of age. The scheme currently gives 8.2% interest per year, and that interest is compounded annually.
The official rules say the account may be opened by a guardian in the name of a girl child who has not yet turned 10, and only one account is allowed for each girl child.
Minimum Deposit
The minimum deposit in this scheme is Rs 250 in a financial year, and the total deposit cannot go above Rs 1.5 lakh in one financial year. More money can be added in multiples of Rs 50, and families can deposit as often as they want during the year. Only resident Indian citizens can use this scheme. Parents or legal guardians can open the account, and in a normal case a family can open accounts for up to two daughters.
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Exception
There is an exception in the case of twins or triplets if proper proof and an affidavit are given. The guardian runs the account until the girl turns 18. After that, the account holder takes charge after giving the needed documents. A recent PIB note also repeats that only one SSY account is allowed per girl child, while more than two accounts can be allowed in the case of twins or triplets with supporting documents.
Strong option for senior citizens
The Senior Citizen Savings Scheme is also offering 8.2%, and it remains one of the best-known savings choices for retirees who want regular and dependable returns. The rate has stayed at 8.2% since April 1, 2023.
Under this scheme, a person can deposit money once in multiples of Rs 1,000, and the total amount cannot be more than Rs 30 lakh. Official scheme rules say the account can be opened with a minimum of Rs 1,000 and in multiples of Rs 1,000 up to Rs 30 lakh.
This scheme is only for resident individuals in India|:
- People aged 60 years and above can open an account.
- Some people between 55 and 60 years can also join if they have retired and open the account within three months of getting retirement benefits, along with the needed papers.
- Retired defence personnel, except civilian employees, can open an account from the age of 50 under the rules.
- The spouse of a government employee who dies in service after the age of 50 can also open one. The account can be opened alone or jointly with a spouse, but the money is treated as belonging to the main account holder.
